Secure Asset Management LLC Buys Shares of 8,156 Affiliated Managers Group, Inc. $AMG

Secure Asset Management LLC bought a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 8,156 shares of the asset manager’s stock, valued at approximately $208,000.

A number of other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Affiliated Managers Group in the 2nd quarter valued at $938,294,000. Bank of America Corp DE purchased a new position in Affiliated Managers Group in the 2nd quarter valued at $146,331,000. Norges Bank acquired a new stake in Affiliated Managers Group during the 4th quarter worth $113,743,000. Balyasny Asset Management L.P. boosted its stake in Affiliated Managers Group by 3,811.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock worth $61,271,000 after purchasing an additional 303,423 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Affiliated Managers Group during the third quarter worth $70,356,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jay C. Horgen sold 17,500 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $338.27, for a total value of $5,919,725.00. Following the transaction, the chief executive officer directly owned 204,706 shares in the company, valued at approximately $69,245,898.62. This represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.90% of the stock is owned by corporate insiders.

Affiliated Managers Group Stock Down 0.7%

NYSE AMG opened at $358.21 on Thursday. The business’s fifty day simple moving average is $361.37 and its 200-day simple moving average is $323.40. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm has a market cap of $9.26 billion, a PE ratio of 12.41, a P/E/G ratio of 0.49 and a beta of 1.10. Affiliated Managers Group, Inc. has a 52 week low of $227.22 and a 52 week high of $392.92.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.90 by $0.39. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The firm had revenue of $640.70 million during the quarter, compared to analyst estimates of $590.94 million. During the same quarter in the prior year, the firm posted $5.39 earnings per share. Affiliated Managers Group’s quarterly revenue was up .0% on a year-over-year basis. As a group, equities analysts anticipate that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is 0.14%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AMG shares. Zacks Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. TD Cowen reaffirmed a “buy” rating and set a $454.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Barrington Research set a $425.00 target price on shares of Affiliated Managers Group in a research note on Friday, July 31st. Finally, Wall Street Zen cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $370.86.

Affiliated Managers Group Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.